3 extremely important ways to make money in 2022 by Robert Kiyosaki
For those who dont know Robert Kiyosaki, he is the author of the best selling book Rich Dad, Poor dad. I read this book as a child and after reading this book I fell in love with the ideas of Robert Kiyosaki. I also think he is responsible for my mindset change as regards been employed. Rich dad, poor dad might arguably be among the top 10 financial books anyone who wants to be rich should read.
I like the way he makes things practical. Although, they may look easy but I assure you that they are not easy but they are achievable with consistency and financial knowledge.
In this post, I will be talking about ways to get rich by Robert kiyosaki.
Without further ado, shall we?
1. Dont live below your means.
I kind of find this very contradicting with the knowledge I have but there is a valid explanation that he gives.
He says that you should live above your means but when living above your means you should make sure its the income from the assets you have that is funding the lifestyle.
In other words, get assets and then let the assets bring money for you and then use the money to fund the lifestyle.
For instance, you invest in the S&P 500 and you want something of a 100 thousand dollars. Robert Kiyosaki advices that you must use the interest of what you have in S&P to fund the lifestyle.
Since you know, the S&P makes an annual profit of 10% per year, this then means you should have at least 1 million dollars in the S&P.
2. Work to learn and not to earn.
This is one that really caught me because it is something that most people tend to ignore. The reason is people are driven by money in most of the things they do. Another reason why people tend to ignore this learning aspect is because people often forget that learning is an investment. For example, I had a friend who would rather work in a place without good opportunities to learn than a place with good learning opportunities however with a slightly lower pay.
Anyways, if you want to get rich according to Robert Kiyosaki, read more and focus on learning more. Remember you need to learn before you earn.
3. The most important thing is a cash flow.
A lot of people do not think of cash flow in their lives. Some people just live their lives as it comes and they are not intentional about their finances.
Robert Kiyosaki says knowing about your cash flow is very paramount if you are going to be rich.
You need to know how money comes in and leaves your pocket. He goes on to define an asset as a commodity that drives money into your pocket while a liability is something that takes money out of your pocket.
He adds that you should monitor your cash flow and make sure your assets are bringing much more money than what the liabilities are taking away.
He also talks about the misconceptions that people have about assets. For example, people think that buying a house is an asset but the real sense of it is that if you pay for a lot of things because you own that house, it becomes a liability.
Another thing is a lot of people think cars are liabilities. The truth is if you buy a car and you drive it as an Uber driver, as far as it brings more money to your wallet, it is an asset.
Robert Kiyosaki has a lot of knowledge as regards being wealthy and I think if you are looking for a way to start your financial journey, he is someone you should follow. You can read his books and follow his YouTube channels. He is quite a practical person. Other tings he talked about as regards riches is tax systems, he says that rich people try to reduce their taxes to zero through establishing businesses and being investors..
Well, I guess that would be all for today.
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Thank you for reading.
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